Proactiveinvestors Australia

Mineral Deposits

Mineral Deposits (ASX:MDL) is an Australian based mining company in the business of mining, integrating and transforming mineral sands resources.


Mineral Deposits Limited to sell stake in World Titanium Resources

Friday, March 04, 2016 by Proactive Investors

Mineral Deposits Limited to sell stake in World Titanium Resources

Mineral Deposits Limited (ASX:MDL) could soon bank $6.45 million from acceptance of an on-market takeover offer for all of the fully paid ordinary shares of World Titanium Resources (ASX:WTR) for A$0.07 cash.

MDL owns 20.02% of the issued capital of World Titanium, which has received the takeover offer from African Minerals
Exploration & Development Fund II and has advised it intends to dispose of the shareholding.

MDL's focus is the TiZir joint venture in partnership with ERAMET of France in which it owns 50%.

That JV involves two integrated, operating assets, the Grande Côte mineral sands operation in Senegal, West Africa and the TiZir Titanium & Iron ilmenite upgrading facility in Tyssedal, Norway.


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